Only 4,476 Individuals Globally Own Superyachts; 33% of Superyachts Owned by Americans
NEW YORK and LONDON, April 15, 2016 /PRNewswire/ -- Wealth-X, the global authority on wealth intelligence, and Camper & Nicholsons, the global leader in luxury yachting activities, today released a first-of-its-kind report on the world's ultra wealthy and the luxury yachting sector.
The strengths of the two firms in wealth and yachting intelligence power the report, which describes valuable information for prospective and existing charter guests and yacht owners.
The report focuses on the rapidly changing face of luxury, with a new, younger generation of Ultra High Net Worth Individuals (UHNWI) increasingly focused on pursuing rare, tailored experiences over accumulating replicable 'things.' In part this is because such uniqueness both confers and confirms high status for those who can secure such experiences.
To understand what unique experiences will be sought out, Wealth-X analyzed data from 211,275 UHNWI - defined as those with a minimum net worth of US$30 million - globally. The data identified three factors that marked these experiences as desirable: time or making every moment count, privacy during the experience and personalization to both meet individual tastes and to provide something truly one of a kind. A superyacht is the ultimate platform of luxury: it is personalized, private and provides access to unique experiences in food and drink, travel and culture and activities and entertainment.
As the pursuit of luxury moves from goods and services to unique experiences, the ultra wealthy are demanding that the returns on their most precious possession, time, are maximized in every way possible. Superyachts provide the pre-eminent platform to do this.
Key findings from the report include:
- The average value of a superyacht is US$10 million
- Only 4,476 individuals own a superyacht
- The top countries for UHNWI superyacht owners are the United States (33%), United Kingdom (11%), Italy (5%), Australia (4%) and Russia (3%)
- UHNWIs are about 88% of the share of the luxury market for yachts, with an annual spend of US$22 billion
Mykolas Rambus, CEO, Wealth-X commented: "With an average price tag of US$10 million, the superyacht is a luxury item owned and enjoyed by the ultra wealthy. This report identifies the convergence of this segment's desire for privacy as well as their seeking of new and unique experiences in their travel."
Paolo Casani, President, Camper & Nicholsons International commented: "The landmark study on the state of wealth, luxury and yachting shows the superyacht industry in a different light from the usual statistic reports; instead it sheds light on how the shifting sands of wealth and luxury affect trends in yachting - something that has never been reported on before. Statistics are, of course, involved and we provide a snapshot of data on the industry's three segments (new construction, brokerage and charter). This, combined with the wealth of knowledge on luxury markets provided by Wealth-X, provides information that we have no doubt will be extremely interesting for clients and potential clients of Camper & Nicholsons. We are both proud and delighted to be working with the leading experts in wealth intelligence to publish the first Knowledge Report of its kind."
In a supplement to the report, Wealth-X and Camper & Nicholsons also identified four trends in the yachting industry, including:
- Ultimate Luxury vs. Adventure: Growing desire for remote locations such as the Galapagos, Antarctica and Asia, meaning demand for ice-breaking hulls and long range capabilities is on the up.
- Innovative Layouts: Today's yachts are moving away from traditional, compartmentalized layouts toward brighter, open-plan interiors. Also, there is increased attention to the outdoor areas to create a direct, intimate experience of the sea.
- New Toys and Entertainment: Alongside standard toys such as jet skis, waterskis and canoes, there is an increasing demand for the latest gadgets such as a jetlev, skibob or hover board. Top-quality cinema rooms are also becoming popular.
- Focus on Health and Wellness: In order to not compromise passenger health when aboard, yachts are offering expert personal trainers, nutritionists, therapists and masseurs.
The full report will be made available for download at a later date.
About Wealth-X
Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors. Its award-winning research and thought leadership are regularly cited by the world's media such as CNBC, Financial Times, Thomson Reuters and BBC. Wealth-X has more than 250 staff in multiple global centers, including Singapore, London and New York (www.wealthx.com)
About Camper & Nicholsons
Since 1782, Camper & Nicholsons has been synonymous with the world's leading yachts. Today, Camper & Nicholsons remains a global leader in all luxury yachting activities, specialising in the sale, purchase, charter, marketing, management and construction of the finest yachts in the world. Their team of dedicated sales and charter brokers, yacht managers and staff all share a passion for being at sea and possess a range of experience and unrivalled knowledge of the industry. Camper & Nicholsons' eleven principal worldwide offices are centred around the key yachting destinations and the main financial destinations of London and New York (www.camperandnicholsons.com).
